I'd want to get a confirmation on memory usage, but I always use Discord's Frame Modifier for these tasks. Here's the link:
http://discord.tetzfiles.com/
On the left, it lists all the frames, organized by type, and you can hide them individually.
edit: finally smaller more manageable threads :), we have a new forum now, so might as well spread out.
edit2: I can't find a thorough synopsis for DrDamage, but does it update damage on tooltips? all I've seen is that it edits "buttons*
edit3: duurrr, it's in the UI2.0 thread:
http://www.wowace.com/wiki/DrDamage